Bonesupport raises $37m to support Cerament platform

Bonesupport said today it raised $37 million in anew round of equity and debt financing, with funds slated to support its Cerament platform of products.
The oversubscribed equity round was led by Tellacq AB and joined by existing shareholders, including HealthCap, Lundbeckfond Ventures, Industrifonden, AP3 and Carl Westin, with the debt round being supported by Kreos Capital.
“I am delighted that we have been able to complete this new financing to help us to execute our strategy to deliver the significant potential of our unique Cerament drug eluting osteoconductive/osteoinductive bioceramic platform. I am also pleased that the equity element reflects the significant progress that we have made during the course of 2016. With our sales on a strong growth trajectory, an increasing body of compelling clinical data and a drug eluting platform that will allow us to develop a pipeline of novel products to treat a broad range of bone diseases, Bonesupport can look to the future with great confidence,” CEO Richard Davies said in a press release.
Funds from the round will support sales of Cerament BVF, G and V in existing and new markets, the company said.  Funds will also support clinical trials of the products and developing pipeline drug-eluting products.
As part of the funding round, Tellacq AB’s Dr. Håkan Björklund will join Bonesupport’s board as chair, though the appointment is subject to shareholder approval, the company added.
“We are deligh...

Source: Mass Device - October 27, 2016 Category: Medical Equipment Authors: Fink Densford Tags: Business/Financial News Orthopedics Bonesupport Source Type: news